A friend borrows $

$1$

$7$

$7$

$2$

$5$

$.$

$0$

$9$

$$from you with an annual effective interest rate of

i

$=$

$8$

$.$

$5$

$\%$

$.$

They intend to repay the loan through

$4$

$9$

$$payments$.$ The first

$4$

$8$

$$are monthly payments

of $

$4$

$2$

$6$

$.$

$7$

$5$

$$each$,$ made at the end of every month starting at the end of the first month.

The last payment, of $

$4$

$2$

$6$

$.$

$7$

$5$

$,$

$$is made after the

$4$

$8$

$$th payment. Find the time of the

$4$

$9$

th payment? Draw Timeline